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Print - 2012-11-08
ECB plan allows for unlimited bond buys: Draghi

ECB plan allows for unlimited bond buys: Draghi

The European Central Bank's new bond-buying programme allows for unlimited interventions in sovereign debt markets and should dispel concerns about a euro zone break-up, ECB President Mario Draghi said on Wednesday. Speaking a day before the ECB meets for
Published 08 Nov, 2012 12:00am
Wintry storm smacks an already battered US Northeast

Wintry storm smacks an already battered US Northeast

A wintry storm dropped snow on the US Northeast on Wednesday and threatened to bring dangerous winds and flooding to a region still climbing out from the devastation of Superstorm Sandy. The nor'easter storm added misery to thousands of people whose homes
Published 08 Nov, 2012 12:00am
Strong quake off Guatemala kills 8

Strong quake off Guatemala kills 8

A strong earthquake off the coast of Guatemala on Wednesday shook buildings in Guatemala City, killed eight people and caused evacuations as far away as Mexico City. A local fire chief said the dead were buried under rubble in three different Guatemalan t
Published 08 Nov, 2012 12:00am
Merkel warns Britain against European Union exit

Merkel warns Britain against European Union exit

Germany's Angela Merkel on Wednesday warned Britain not to turn its back on Europe ahead of talks in London with Prime Minister David Cameron aimed at overcoming divisions that threaten to block a European Union budget deal later this month. Cameron has s
Published 08 Nov, 2012 12:00am
Eurozone to flatline in 2013, pick up in 2014: EU executive

Eurozone to flatline in 2013, pick up in 2014: EU executive

The Eurozone economy will barely grow next year but pick up in 2014, the European Commission said on Wednesday, forecasting slower growth than governments in all the bloc's biggest economies expect. The European Union's executive arm said the economy of t
Published 08 Nov, 2012 12:00am
Top companies across Europe plan wide job cuts

Top companies across Europe plan wide job cuts

Companies as diverse as telecoms equipment group Ericsson, bank ING, steel group Kloeckner and engineering firm Bombardier announced sweeping job cuts on Wednesday as economic worries spread across some of Europe's strongest economies. Even previously saf
Published 08 Nov, 2012 12:00am
BNP Paribas more than doubles profits

BNP Paribas more than doubles profits

Net profits at France's biggest bank, BNP Paribas, more than doubled in the third quarter as the bank continued to reduce its exposure to eurozone sovereign debt. Net income rose to 1.3 billion euros (1.66 billion dollars) from 541 million euros in the sa
Published 08 Nov, 2012 12:00am
BNP Paribas more than doubles profits

BNP Paribas more than doubles profits

Net profits at France's biggest bank, BNP Paribas, more than doubled in the third quarter as the bank continued to reduce its exposure to eurozone sovereign debt. Net income rose to 1.3 billion euros (1.66 billion dollars) from 541 million euros in the sa
Published 08 Nov, 2012 12:00am
India needs to 'reboot' economy: WEF

India needs to 'reboot' economy: WEF

India needs to "reboot" its economy by reducing endemic corruption and slashing red tape to get back on a high growth path and reduce poverty, delegates said at a high-profile economic forum on Wednesday. The call at the India World Economic Forum came as
Published 08 Nov, 2012 12:00am
ECB plan allows for unlimited bond buys: Draghi

ECB plan allows for unlimited bond buys: Draghi

The European Central Bank's new bond-buying programme allows for unlimited interventions in sovereign debt markets and should dispel concerns about a euro zone break-up, ECB President Mario Draghi said on Wednesday. Speaking a day before the ECB meets for
Published 08 Nov, 2012 12:00am
Syrian rebels fire at, miss Assad's palace

Syrian rebels fire at, miss Assad's palace

Syrian rebels fired mortars at President Bashar al-Assad's palace in Damascus on Wednesday but missed, in an attack underlining the growing boldness of forces fighting to end his family's 42 years in power. As violence flared in other parts of the country
Published 08 Nov, 2012 12:00am
Dana Gas restructures $920 million sukuk

Dana Gas restructures $920 million sukuk

Dana Gas, the first UAE group to default on an Islamic bond, has reached an agreed restructuring of its $920 million sukuk, potentially averting seizure of its Egyptian assets. Although indebted firms in the Gulf Arab state have extended maturities on bil
Published 08 Nov, 2012 12:00am
Dana Gas restructures $920 million sukuk

Dana Gas restructures $920 million sukuk

Dana Gas, the first UAE group to default on an Islamic bond, has reached an agreed restructuring of its $920 million sukuk, potentially averting seizure of its Egyptian assets. Although indebted firms in the Gulf Arab state have extended maturities on bil
Published 08 Nov, 2012 12:00am
EU looks at easing visas for Russians, Chinese

EU looks at easing visas for Russians, Chinese

With newly-affluent Russians and Chinese queuing up to tour the EU, Brussels on Wednesday urged European nations to facilitate travel visas to help spur badly-needed economic growth. "It's business," said the commissioner for industry Antonio Tajani. "Tou
Published 08 Nov, 2012 12:00am
Violence erupts at Greek anti-cuts protest

Violence erupts at Greek anti-cuts protest

Greek police fired teargas and water cannon at protesters hurling petrol bombs outside parliament on Wednesday in one of the biggest rallies in months against the cuts the country must approve if it is to secure aid and avert bankruptcy. As lawmakers near
Published 08 Nov, 2012 12:00am
L'Oreal opens huge Indonesia plant

L'Oreal opens huge Indonesia plant

Cosmetics giant L'Oreal on Wednesday opened its biggest factory in the world in Indonesia, as it seeks to profit from strong demand for beauty products in fast-growing Asia. The French group, the world's biggest cosmetics company, said the factory outside
Published 08 Nov, 2012 12:00am
Apple ordered to pay $368 million in patent case

Apple ordered to pay $368 million in patent case

Apple has been ordered to pay $368 million for patent infringement in its use of Facetime, an application that allows for video calls on mobile devices, the plaintiff said Wednesday. Security software firm VirnetX said in a statement the jury in a federal
Published 08 Nov, 2012 12:00am
Egypt sees IMF loan deal in Dec; cabinet approves stock market tax

Egypt sees IMF loan deal in Dec; cabinet approves stock market tax

Egypt expects to reach a loan agreement with the IMF by mid-December after talks this month focusing on limiting the budget deficit and a minimum level for its foreign reserves, the finance minister said on Wednesday. He also said the cabinet had on Wedne
Published 08 Nov, 2012 12:00am
Ajmal thrilled to play in Australian Big Bash

Ajmal thrilled to play in Australian Big Bash

Pakistan's wily off-spinner Saeed Ajmal said Wednesday he was thrilled at joining Adelaide Strikers for the Australian Big Bash Twenty20 league next month. He is one of three Pakistani players who have signed to play in Australia's Twenty20 event, along w
Published 08 Nov, 2012 12:00am
South Africa, Australia in shoot-out for No 1

South Africa, Australia in shoot-out for No 1

Pace-packed South Africa's number one world ranking is on the line in a mouth-watering Test series against an in-form Australia team that starts at Brisbane's Gabba on Friday. The Proteas, who became the world's top side after an impressive 2-1 series vic
Published 08 Nov, 2012 12:00am
California rejects GM labels, upholds death penalty

California rejects GM labels, upholds death penalty

California voters on Tuesday struck down proposals to ban the death penalty and to require food companies to label genetically-modified products, officials said, based on a majority of votes. The votes marked rare victories for conservatives on a night th
Published 08 Nov, 2012 12:00am
Palm oil recovers

Palm oil recovers

Malaysian palm oil futures gained on Wednesday, snapping three days of losses, with investors buying after prices dropped to a one-month low earlier in the session and on concerns year-end floods in the country could hurt production. "I heard there are wo
Published 08 Nov, 2012 12:00am
Wheat gains 1.3 percent

Wheat gains 1.3 percent

US wheat futures rose 1.3 percent on Tuesday, their second straight day of gains, due to concerns about the poor condition of the just-planted winter crop in the United States and weather trouble in major exporters Australia and Argentina. Soyabean future
Published 08 Nov, 2012 12:00am
Tokyo rubber futures soar

Tokyo rubber futures soar

Tokyo rubber futures rose over 2 percent on Wednesday, with investor appetite for risk boosted as President Barack Obama was re-elected in the United States, paving the way for continued monetary stimulus in the world's largest economy. The benchmark rubb
Published 08 Nov, 2012 12:00am
New York cotton slips after hitting technical resistance

New York cotton slips after hitting technical resistance

US cotton futures closed lower on Tuesday, erasing earlier gains, as fibre prices hit technical selling after piercing a nine-day moving average. The most-active December cotton contract on ICE Futures US settled at 70.10 cents per lb, down 0.30 cent or 0
Published 08 Nov, 2012 12:00am
Oil drops nearly four percent

Oil drops nearly four percent

Brent crude fell nearly 4 percent on Wednesday as problems facing the economies of the United States and Europe darkened investor sentiment a day after the re-election of US President Barack Obama. Lopping off Tuesday's US election day gains, crude fell f
Published 08 Nov, 2012 12:00am
Copper falls to two-month low

Copper falls to two-month low

Copper dropped to a two-month low on Wednesday as investors switched focus from the outcome of the US election to a weak European economy, a Greek austerity vote and the US "fiscal cliff" of tax hikes and spending cuts. Copper initially jumped on news tha
Published 08 Nov, 2012 12:00am
Shanghai copper up

Shanghai copper up

The most active February copper contract on the Shanghai Futures Exchange rose 1 percent to end the session at 56,600 yuan ($9,100) a tonne on Wednesday. "Overall, when incumbents win elections, it usually means continuation of the status quo. So an Obama
Published 08 Nov, 2012 12:00am
Sugar sinks 3.3 percent

Sugar sinks 3.3 percent

Raw sugar futures on ICE tumbled more than 3 percent on Wednesday, with speculative selling pushing the market to a seven-week low, while robusta coffee futures on Liffe turned higher after dropping to a nine-month low for the second straight day Due to h
Published 08 Nov, 2012 12:00am
Bangladesh boat carrying migrants sinks, many missing

Bangladesh boat carrying migrants sinks, many missing

A boat carrying about 110 Bangladeshis and Rohingya Muslims from neighbouring Myanmar sank in the Bay of Bengal on Wednesday as they were heading to Malaysia and about half of them were missing, a Bangladeshi border force officer said. The boat went down
Published 08 Nov, 2012 12:00am
Several EADS sites in Germany searched

Several EADS sites in Germany searched

Authorities have searched several German-based sites of European aerospace giant EADS as part of an investigation into alleged corruption, a public prosecutor said on Wednesday. "I can confirm that we have searched several sites in Germany as part of a co
Published 08 Nov, 2012 12:00am
Georgia detains Saakashvili defence chiefs over 'abuses'

Georgia detains Saakashvili defence chiefs over 'abuses'

Georgia has arrested its ex-defence minister and top general in the first major case of alleged power abuses under President Mikheil Saakashvili's recently ousted government, officials said Wednesday. Former defence minister Bacho Akhalaia and current arm
Published 08 Nov, 2012 12:00am
Iraq expels Turkish firm from oil exploration deal

Iraq expels Turkish firm from oil exploration deal

Iraq expelled Turkish national energy firm TPAO on Wednesday from a consortium which won an exploration contract in south Iraq, in the latest sign of worsening ties between Baghdad and Ankara. The two neighbours have been at odds over the Syrian conflict
Published 08 Nov, 2012 12:00am
Security Council divided over Somalia arms embargo

Security Council divided over Somalia arms embargo

The UN Security Council on Wednesday renewed the mandate of an African peacekeeping force in Somalia for just four months amid a dispute over an arms embargo against the strife-torn country. A 17,000-strong African Union force is propping up the new Somal
Published 08 Nov, 2012 12:00am
Ghana mall collapse kills at least three; dozens feared trapped

Ghana mall collapse kills at least three; dozens feared trapped

A six-storey shopping mall collapsed in the Ghanaian capital Accra on Wednesday, with at least three people so far confirmed dead and dozens of victims feared trapped, sparking desperate rescues. Police said around 50 employees were reported to be in the
Published 08 Nov, 2012 12:00am
Iraq inks oil exploration deal with Lukoil and Inpex

Iraq inks oil exploration deal with Lukoil and Inpex

Iraq on Wednesday signed a deal with Russia's Lukoil and Japan's Inpex to explore an area believed to contain oil, the latest step in Baghdad's efforts to boost its role as a key global energy supplier. Under the contract, the two firms must invest at lea
Published 08 Nov, 2012 12:00am
Czech Prime Minister wins confidence vote on tax bill

Czech Prime Minister wins confidence vote on tax bill

The Czech government survived a major crisis Wednesday as parliament passed a tax hike which Prime Minister Petr Necas made tantamount to a confidence motion, thus thwarting a rise to power by the leftist opposition. The legislation, which slaps higher ta
Published 08 Nov, 2012 12:00am
Mumbai attack Imran promises to bring perpetrators to justice

Mumbai attack Imran promises to bring perpetrators to justice

Pakistan Tereek-e-Insaf Chairman made some of the right noises in a freewheeling interview with India's Mail Today newspaper this week. In town to attend the World Economic Forum being held in Gurgaon, Khan made a measured promise to bring the perpetrator
Published 08 Nov, 2012 12:00am
Textile industry: SNGPL drastically reduces gas supply

Textile industry: SNGPL drastically reduces gas supply

Textile industry is likely to face a worsening situation in the coming days, as the Sui Northern Gas Pipelines Limited (SNGPL) has reduced gas supply to the industry to four days a week, it is learnt. Government has set textile exports' target at $16 bill
Published 08 Nov, 2012 12:00am
Textile industry: SNGPL drastically reduces gas supply

Textile industry: SNGPL drastically reduces gas supply

Textile industry is likely to face a worsening situation in the coming days, as the Sui Northern Gas Pipelines Limited (SNGPL) has reduced gas supply to the industry to four days a week, it is learnt. Government has set textile exports' target at $16 bill
Published 08 Nov, 2012 12:00am
Textile industry: SNGPL drastically reduces gas supply

Textile industry: SNGPL drastically reduces gas supply

Textile industry is likely to face a worsening situation in the coming days, as the Sui Northern Gas Pipelines Limited (SNGPL) has reduced gas supply to the industry to four days a week, it is learnt. Government has set textile exports'' target at $16 bil
Published 08 Nov, 2012 12:00am
Textile industry: SNGPL drastically reduces gas supply

Textile industry: SNGPL drastically reduces gas supply

Textile industry is likely to face a worsening situation in the coming days, as the Sui Northern Gas Pipelines Limited (SNGPL) has reduced gas supply to the industry to four days a week, it is learnt. Government has set textile exports'''' target at $16 b
Published 08 Nov, 2012 12:00am
SP among six killed in Peshawar suicide attack

SP among six killed in Peshawar suicide attack

At least six people, including a police officer, were killed and 27 others injured in a suicide attack on a police van at the historical Qissakhwani Bazaar here on Wednesday. According to police officials, the vehicle of SP (Investigations) Hilal Haider w
Published 08 Nov, 2012 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 08 Nov, 2012 12:00am
SP among six killed in Peshawar suicide attack

SP among six killed in Peshawar suicide attack

At least six people, including a police officer, were killed and 27 others injured in a suicide attack on a police van at the historical Qissakhwani Bazaar here on Wednesday. According to police officials, the vehicle of SP (Investigations) Hilal Haider w
Published 08 Nov, 2012 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 08 Nov, 2012 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 08 Nov, 2012 12:00am
RPP verdict: NAB asked to submit details of investigations

RPP verdict: NAB asked to submit details of investigations

The Supreme Court on Wednesday issued directives to National Accountability Bureau (NAB) to submit details of authorised investigations, including recovery of public money or arrests, in the wake of court's verdict on Rental Power Projects (RPPs).
Published 08 Nov, 2012 12:00am
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.

Published 08 Nov, 2012 12:00am
RPP verdict: NAB asked to submit details of investigations

RPP verdict: NAB asked to submit details of investigations

The Supreme Court on Wednesday issued directives to National Accountability Bureau (NAB) to submit details of authorised investigations, including recovery of public money or arrests, in the wake of court's verdict on Rental Power Projects (RPPs).
Published 08 Nov, 2012 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 08 Nov, 2012 12:00am
RPP verdict: NAB asked to submit details of investigations

RPP verdict: NAB asked to submit details of investigations

The Supreme Court on Wednesday issued directives to National Accountability Bureau (NAB) to submit details of authorised investigations, including recovery of public money or arrests, in the wake of court''s verdict on Rental Power Projects (RPPs).
Published 08 Nov, 2012 12:00am
Russia, eastern Europe hit by eurozone woes: EBRD

Russia, eastern Europe hit by eurozone woes: EBRD

Central and East European countries face a "substantial economic slow-down" this year and next as a result of the ongoing turmoil in the eurozone area, the London-based European Bank for Reconstruction and Development (EBRD) said Wednesday.
Published 08 Nov, 2012 12:00am
Russia, eastern Europe hit by eurozone woes: EBRD

Russia, eastern Europe hit by eurozone woes: EBRD

Central and East European countries face a "substantial economic slow-down" this year and next as a result of the ongoing turmoil in the eurozone area, the London-based European Bank for Reconstruction and Development (EBRD) said Wednesday.
Published 08 Nov, 2012 12:00am
Russia, eastern Europe hit by eurozone woes: EBRD

Russia, eastern Europe hit by eurozone woes: EBRD

Central and East European countries face a "substantial economic slow-down" this year and next as a result of the ongoing turmoil in the eurozone area, the London-based European Bank for Reconstruction and Development (EBRD) said Wednesday.
Published 08 Nov, 2012 12:00am
Britain lifts held Kashmir travel warning

Britain lifts held Kashmir travel warning

Britain has lifted its advisory against travelling to some parts of Indian held Kashmir in the latest sign of the scenic region's revival as a tourism destination. Famed for its houseboats on placid lakes, clean air and mountain scenery, held Kashmir was
Published 08 Nov, 2012 12:00am
Britain lifts held Kashmir travel warning

Britain lifts held Kashmir travel warning

Britain has lifted its advisory against travelling to some parts of Indian held Kashmir in the latest sign of the scenic region's revival as a tourism destination. Famed for its houseboats on placid lakes, clean air and mountain scenery, held Kashmir was
Published 08 Nov, 2012 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (November 07, 2012).

Published 08 Nov, 2012 12:00am
German industry sputters as eurozone crisis weighs

German industry sputters as eurozone crisis weighs

German manufacturing, the locomotive of Europe's largest economy, is running out of steam three years into the euro zone debt crisis, which has clobbered orders and output. Data on Wednesday showed output slid by 1.8 percent on the month in September, mor
Published 08 Nov, 2012 12:00am
German industry sputters as eurozone crisis weighs

German industry sputters as eurozone crisis weighs

German manufacturing, the locomotive of Europe's largest economy, is running out of steam three years into the euro zone debt crisis, which has clobbered orders and output. Data on Wednesday showed output slid by 1.8 percent on the month in September, mor
Published 08 Nov, 2012 12:00am
German industry sputters as eurozone crisis weighs

German industry sputters as eurozone crisis weighs

German manufacturing, the locomotive of Europe''s largest economy, is running out of steam three years into the euro zone debt crisis, which has clobbered orders and output. Data on Wednesday showed output slid by 1.8 percent on the month in September, mo
Published 08 Nov, 2012 12:00am
Parties call upon stakeholders to perform within constitutional domains

Parties call upon stakeholders to perform within constitutional domains

The major political parties in the country were unanimous in calling upon all stakeholders to perform their duties within their respective constitutional domains on Wednesday. The statements by Army Chief General Ashfaq Pervez Kayani and Chief Justice Ift
Published 08 Nov, 2012 12:00am
THE RUPEE: dollar falls

THE RUPEE: dollar falls

As a result of improvement in supply of the US currency, the dollar failed to hold its command over the rupee on the money market on Wednesday, experts said. A kind of some easiness in the supply of the dollar seen in the interbank market, causing a hands
Published 08 Nov, 2012 12:00am
Female literacy rate in Fata on the rise: Khyber Pakhtunkhwa governor

Female literacy rate in Fata on the rise: Khyber Pakhtunkhwa governor

Khyber Pakhtunkhwa Governor, Barrister Masood Kausar has said that no society can get progress and prosperity without focusing on promotion of education and the pleasant aspect in respect of Fata is that the literacy rate amongst female populace is in the
Published 08 Nov, 2012 12:00am
THE RUPEE: dollar falls

THE RUPEE: dollar falls

As a result of improvement in supply of the US currency, the dollar failed to hold its command over the rupee on the money market on Wednesday, experts said. A kind of some easiness in the supply of the dollar seen in the interbank market, causing a hands
Published 08 Nov, 2012 12:00am
Young doctors call off protest movement

Young doctors call off protest movement

Young doctors in Punjab on Wednesday called off their protest movement following acceptance of their demands. Young Doctors Association (YDA) President Hamid Butt announced dissolution of present general body of the YDA; however, the existing body would c
Published 08 Nov, 2012 12:00am
ZAB reference: hearing on November 12

ZAB reference: hearing on November 12

The Supreme Court on Wednesday fixed for November 12 the hearing of the presidential reference that has sought a revisit of the death sentence given to former Prime Minister Zulfikar Ali Bhutto. A nine-member bench of the apex court headed by Chief Justic
Published 08 Nov, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (November 07, 2012).

Published 08 Nov, 2012 12:00am
Statements of CoAS, CJP: Nawaz sees positivity

Statements of CoAS, CJP: Nawaz sees positivity

Pakistan Muslim League-Nawaz (PML-N) President Nawaz Sharif has taken positively the recent statements of Chief of Army Staff General Ashfaq Pervez Kayani and Chief Justice Iftikhar Muhammad Chaudhry saying that it is a reflection of the upcoming bright f
Published 08 Nov, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (November 07, 2012).

Published 08 Nov, 2012 12:00am
Banking court judges' appointment federation's prerogative: AG

Banking court judges' appointment federation's prerogative: AG

The Attorney-General appeared in a petition filed by the Federation of Pakistan against an order of Peshawar High Court. According to a press release issued here on Wednesday, the Federation of Pakistan through Ministry of Law and Justice challenged the o
Published 08 Nov, 2012 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Wednesday (November 07, 2012).

Published 08 Nov, 2012 12:00am
Mandviwala elected Senator

Mandviwala elected Senator

Pakistan People Party PPP- backed candidate Saleem Mandviwala has been elected Senator unopposed here on Wednesday. The Provincial Election Commissioner, Sonu Khan Baloch scrutinised the nomination papers of candidates while other candidate for the slot R
Published 08 Nov, 2012 12:00am
Punjab government to construct labour colony in Khushab

Punjab government to construct labour colony in Khushab

Provincial Minister for Minerals, Chaudhry Abdul Ghafoor said that Minerals Department will construct a labour colony consisting of 100 houses with all basic facilities for mine workers in district Khushab. He said the Miners' Labour Colony will be set up
Published 08 Nov, 2012 12:00am